The Purchase Agreement usually deals with the following:
- Specific definitions and terms associated with the transaction
- The parties
- The purchase price and payment terms
- Whether it is a share or asset purchase agreement
- Deposits, hold-backs and right of set-off
- Escrow arrangements
- Vendor and purchaser representations and warranties
- Vendor and Purchaser covenants
- Vendor’s and purchaser’s conditions of closing
- Closing date, time and place
- Closing documents required from both parties
- Non-dompetition and restrictive covenant arrangements
- Any further terms applicable to the transaction
